During a recession, ROI is obviously more important than ever. But are you also taking the time to focus on existing customers and on how they can be harnessed as brand advocates?
With marketing spends under tremendous scrutiny in the economic downturn, companies are raising their game and working even harder to secure the best return possible for their investment. Although generating brand awareness and creating interest is indeed crucial, it is also often the most expensive form of marketing. As a result, more time is being invested in market research to ensure the messages are hitting the sweet spots. A strong understanding of who your customers are, staying close to them and building customer loyalty are all imperative within marketing - and brand advocacy is without doubt brand nirvana.
Brand advocates play a tremendous role in influencing others to move along the customer journey and turning loyal customers into brand advocates is one of the most effective forms of marketing you could possibly wish for. However, this doesn’t mean you can just put your feet up once you have achieved this stage in the customer journey, as your customers will only keep saying good things about you if you keep them happy.
